Singapore factory output grows less than expected in January y/y

SINGAPORE, Feb 24 (Reuters) - Singapore’s industrial production in January grew more slowly than expected due to a decline in biomedical manufacturing output, data showed on Friday.

Manufacturing output in January rose 2.2 percent from a year earlier, data from the Singapore Economic Development Board showed, lower than the median forecast of 8.4 percent expansion in a Reuters survey.

Industrial production in January shrunk more than expected on a month-on-month and seasonally adjusted basis, at 6.0 percent. The poll’s median forecast was for a contraction of 2.6 percent.

In December, Singapore’s industrial production grew at the strongest pace in five years, jumping at a revised 22.1 percent from a year earlier as electronics output surged. (Reporting by Fathin Ungku; Editing by Richard Borsuk)